Lightyear Capital to Buy Wealth Enhancement Group from NEP
April 22, 2015
Lightyear Capital has entered into a definitive agreement to purchase a majority equity stake in Wealth Enhancement Group from Norwest Equity Partners. Established in 1997, WEG is an independent wealth management firm managing approximately $4.7 billion in assets across 13 U.S. offices in Minnesota, Iowa and Illinois. The firm currently manages assets from over 10,000 households and offers its services across 40 states. NEP initially acquired WEG in 2007; at the time, the firm managed more than $2 billion.